Robert W. Baird Issues Positive Forecast for Merit Medical Systems (NASDAQ:MMSI) Stock Price

Merit Medical Systems (NASDAQ:MMSI) had its price target boosted by equities researchers at Robert W. Baird from $107.00 to $109.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the medical instruments supplier’s stock. Robert W. Baird’s price target indicates a potential upside of 10.32% from the company’s current price.

MMSI has been the subject of a number of other reports. Bank of America boosted their target price on shares of Merit Medical Systems from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Merit Medical Systems from $85.00 to $103.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. StockNews.com raised Merit Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Barrington Research reissued an “outperform” rating and issued a $114.00 price objective on shares of Merit Medical Systems in a research report on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Merit Medical Systems in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.36.

Merit Medical Systems Trading Up 0.1 %

NASDAQ MMSI opened at $98.80 on Thursday. The company’s 50-day simple moving average is $96.60 and its two-hundred day simple moving average is $87.89. Merit Medical Systems has a one year low of $65.46 and a one year high of $101.60. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 2.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 4.64 and a current ratio of 6.24.

Merit Medical Systems (NASDAQ:MMSI) last issued its quarterly earnings data on Wednesday, October 30th. The medical instruments supplier reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Merit Medical Systems had a net margin of 9.05% and a return on equity of 15.86%. The company had revenue of $339.85 million during the quarter, compared to the consensus estimate of $334.60 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Merit Medical Systems’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts forecast that Merit Medical Systems will post 3.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

A number of large investors have recently bought and sold shares of the business. Norden Group LLC purchased a new stake in shares of Merit Medical Systems in the first quarter valued at approximately $293,000. Sequoia Financial Advisors LLC acquired a new position in Merit Medical Systems during the first quarter worth $336,000. BNP Paribas Financial Markets lifted its holdings in Merit Medical Systems by 55.3% during the first quarter. BNP Paribas Financial Markets now owns 52,953 shares of the medical instruments supplier’s stock valued at $4,011,000 after purchasing an additional 18,863 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Merit Medical Systems during the first quarter valued at $90,000. Finally, FORA Capital LLC acquired a new stake in shares of Merit Medical Systems in the first quarter valued at about $577,000. Institutional investors and hedge funds own 99.66% of the company’s stock.

Merit Medical Systems Company Profile

Merit Medical Systems, Inc designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures in the United States and internationally. It operates in two segments, Cardiovascular and Endoscopy. The company provides micropuncture kits, angiographic needles, sheaths, guide wires, and safety products; peripheral intervention, including angiography, drainage, delivery systems, and embolotherapy products; spine products, such as vertebral augmentation, radiofrequency ablation, and bone biopsy systems; oncology products; and cardiac intervention products, such as access, angiography, electrophysiology and cardiac rhythm management, fluid management, hemodynamic monitoring, hemostasis, and intervention to treat various heart conditions.